SIX Swiss Exchange is to partner with London Stock Exchange Group to establish a link to their UnaVista service to facilitate transaction reporting for products admitted to trading on SIX Swiss Exchange for remote participants. The service from UnaVista will allow remote participants of SIX Swiss Exchange to fulfil their reporting obligations under the Swiss Financial Market Infrastructure Act (FMIA).
The FMIA enhanced the reporting obligations for securities dealers which required a revised service solution to be developed. The data UnaVista will provide to the Reporting Office of SIX Swiss Exchange will enable remote members to fulfil their reporting obligations in securities admitted to trading on SIX Swiss Exchange. Furthermore it minimizes the need to duplicate reporting across jurisdictions and, by using consistent data formats, creates process efficiencies.
SIX Swiss Exchange remote participants will benefit from UnaVista's well-established and proven regulatory reporting technology. The flexible platform has been constantly evolving to address new obligations in various financial markets, and has won many awards in the process, including the best Regulatory Reporting Platform at the Operational Risk Awards in 2016. The partnership will ensure that SIX Swiss Exchange remote participants will be able to maximize the economies of scale of using UnaVista to fulfil their transaction reporting obligations.
Chris Landis, Division CEO SIX Swiss Exchange: «We are delighted to be partnering with London Stock Exchange Group to offer this service to our customers. The UnaVista platform enjoys an excellent reputation and offers our clients access to a proven and efficient mechanism to meet regulatory obligations. This reflects our ambition to continuously seek beneficial solutions which enable our clients to optimize business opportunities in a cost-efficient and reliable way.»
Mark Husler, CEO UnaVista, London Stock Exchange Group: «This is an exciting opportunity to collaborate with SIX Swiss Exchange to help create efficiencies for firms with global reporting obligations. It is a testament to how UnaVista's flexible platform helps futureproof firms from new regulations and changes to existing regulations.»